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BFI Capital
April 6, 2023

The Many Moving Parts of the Current Investment Environment

In this Fireside Conversation, Frank sits down with Anastassios Frangulidis, a renowned economist in Switzerland. For many years, Anastassios was the Chief Economist and Chief Strategist of the Zurich Kantonalbank (ZKB), one of the largest state-backed banks in Switzerland. Today, he is the Head of Multi Asset Zurich for Pictet Asset Management. Pictet is a Swiss private bank and has been a trusted partner of BFI for over 15 years. With his vast background in the field, Anastassios has immense experience and knowledge in both economic research and investing.

Anastassios and Frank discuss the many moving parts investors have to consider in today’s investment environment: Monetary and fiscal policies and their longer-term impact, interest rates, inflation, the economic cycle, where we find ourselves compared to China and Japan, and the broader impacts of a tightening of the economy.

Furthermore, the interview underlines the reasons and growing importance of taking the current geopolitical changes and supply chain rearrangements into account. Finally, Anastassios and Frank tie their conclusions together and discuss the massive implications for investors. Now that a ‘buy and hold approach’ has become very difficult and active portfolio management is essential, questions abound: Where do the opportunities of tomorrow lie? Where can the most interesting themes and sectors be found? How can we effectively protect and grow what is rightfully ours?

This Conversation was recorded right before the banking crisis started and Credit Suisse came under the world microscope. Since then, a lot has happened, and yet there is likely more to come. We live in turbulent, but also very interesting, times!

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